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Category [NCERT] Admission of Partner

[NCERT] Admission of Partner 35 Questions

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Ashish and Dutta were partners in a firm sharing profits in 3 : 2 ratio. On Jan. 01, 2015 they admitted Vimal for 1/5 share in the profits. The Balance Sheet of Ashish and Dutta as on March 31, 2016 was as follows

286 viewsAnurag Pathak Answered question August 14, 2024[NCERT] Admission of Partner

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Azad and Babli are partners in a firm sharing profits and losses in the ratio of 2 : 1. Chintan is admitted into the firm with 1/4 share in profits

235 viewsAnurag Pathak Changed status to publish August 14, 2024[NCERT] Admission of Partner

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The following was the Balance Sheet of Arun, Bablu and Chetan sharing profits and losses in the ratio of 6/14 : 5/14 : 3/14 respectively.

314 viewsAnurag Pathak Changed status to publish August 11, 2024[NCERT] Admission of Partner

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Pinky, Qumar and Roopa partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Seema is admitted as a new partner for 1/4 share in the profits of the firm, which he gets 1/8 from Pinky, and 1/16 each from Qumar and Roopa

294 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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A and B are partners sharing profits and losses in the ratio of 3 : 1. On 1st April, 2017 they admitted C as a new partner for 1/4 share in the profits of the firm

388 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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A and B share profits in the proportions of 3/4 and 1/4. Their Balance Sheet on March 31, 2016 was as follows:

294 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Amit and Viney are partners in a firm sharing profits and losses in 3 : 1 ratio. on 1.1.2017 they admitted Ranjan as a partner. on Ranjan’s admission the profit and loss account of Amit and Viney showed a debit balance of Rs. 40,000

291 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Leela and Meeta were partners in a firm sharing profits and losses in the ratio of 5 : 3. In April 2017 they admitted Om as a new partner. On the date of Om’s admission the balance sheet of Leela and Meeta showed a balance of Rs. 16,000 in general reserve and Rs. 24,000 (Cr)

260 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Given below is the Balance Sheet of A and B, who are carrying on partnership business on 31.12.2016. A and B share profits and losses in the ratio of 2 : 1

279 viewsAnurag Pathak Changed status to publish August 10, 2024[NCERT] Admission of Partner

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Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4 : 3 : 2. Anthony could not bring this share of goodwill Rs. 45,000 in cash

306 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Rajesh and Mukesh are equal partners in a firm. They admit Hari into partnership and the new profit sharing ratio between Rajesh, Mukesh and Hari is 4 : 3 : 2. On Hari’s admission goodwill of the firm is valued at Rs. 36,000

296 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Mohan Lal and Sohan Lal were partners in a firm sharing profits and losses in 3 : 2 ratio. They admitted Ram Lal for 1/4 share on 1.1.2013. It was agreed that goodwill of the firm will be valued at 3 years purchase of the average profits of last 4 years which were Rs. 50,000 for 2013, Rs. 60,000 for 2014, Rs. 90,000 for 2015 and Rs. 70,000 for 2016

259 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Amar and Samar were partners in a firm sharing profits and losses in 3 : 1 ratio. They admitted Kanwar for 1/4 share of profits. Kanwar could not bring his share of goodwill premium in cash

239 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Aditya and Balan are partners sharing profits and losses in 3 : 2 ratio. They admitted Christopher for 1/4 share in the profits. The new profit sharing ratio agreed was 2 : 1 : 1

264 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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X and Y are partners in a firm sharing profits and losses in 4 : 3 ratio. They admitted Z for 1/8 share. Z brought Rs. 20,000 for his capital and Rs. 7,000 for his 1/8 share of goodwill

303 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi for 1/4 share in the profits of the firm. Sarthi brings Rs. 50,000 for his capital and Rs. 10,000 for his 1/4 share of goodwill

274 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decide to admit C into partnership with 1/4 share in profits. C will bring in Rs. 30,000 for capital and the requisite amount of goodwill premium in cash

341 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5 share of profits. Ghosh is to bring in rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium

243 viewsAnurag Pathak Edited answer August 10, 2024[NCERT] Admission of Partner

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A business has earned average profits of Rs. 1,00,000 during the last few years. Find out the value of goodwill by capitalisation method, given that the assets of the business are Rs. 10,00,000 and its external liabilities are Rs. 1,80,000

268 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Rajan and Rajani are partners in a firm. Their capitals were Rajan Rs. 3,00,000; Rajani Rs. 2,00,000. During the year 2015 the firm earned a profit of Rs. 1,50,000

243 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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The books of Ram and Bharat showed that the firm’s capital on 31. 12. 2016 was Rs. 5,00,000 and the profits for the last 5 years : 2015 Rs. 40,000; 2014 Rs. 50,000; 2013 Rs. 55,000; 2012 Rs. 70,000 and 2011 Rs. 85,000

254 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Firm’s Capital in a business is Rs. 2,00,000. The normal rate of return on firm’s capital is 15%. During the year 2015 the firm earned a profit of Rs. 48,000

229 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Compute the value of goodwill on the basis of four years purchase of the average profits based on the last five years? The profits for the last five years were as follows

256 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Rao and Swami are partners in a firm sharing profits and losses in 3 : 2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4 : 3

256 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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Sandeep and Navdeep are partners in a firm sharing profits in 5 : 3 ratio. They admit C into the firm and the new profit sharing ratio was agreed at 4 : 2 : 1. Calculate the sacrificing ratio

254 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner

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